29 Jun Question 2. A ten year, 8 percent, $1,000 bond is issued at 102 ¾.
Question
2. A ten year, 8 percent, $1,000 bond is issued at 102 ¾.
a. How much did this bond sell for?
The bond sold for = __________________
b. Was the market rate of interest greater or less than 8%?
Circle the correct answer. Greater or Less
c. What is the total amount of interest paid over the life of this bond?
The total amount of interest paid over the life of the bond = _________________
d. What is the total amount of interest expense recorded on this bond?
The total amount of interest expense recorded on this bond = _______________
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